Tarsus Pharmaceuticals (NASDAQ:TARS) Shares Gap Up Following Strong Earnings

Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS)’s stock price gapped up before the market opened on Tuesday following a better than expected earnings announcement. The stock had previously closed at $45.54, but opened at $47.44. Tarsus Pharmaceuticals shares last traded at $44.83, with a volume of 251,757 shares changing hands.

The company reported ($0.60) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.68) by $0.08. Tarsus Pharmaceuticals had a negative return on equity of 55.86% and a negative net margin of 103.64%. The firm had revenue of $66.41 million for the quarter, compared to the consensus estimate of $58.80 million.

Analyst Ratings Changes

Several brokerages have commented on TARS. Guggenheim reaffirmed a “buy” rating on shares of Tarsus Pharmaceuticals in a research note on Monday. The Goldman Sachs Group upped their price objective on shares of Tarsus Pharmaceuticals from $36.00 to $41.00 and gave the company a “neutral” rating in a research report on Friday, November 15th. Oppenheimer raised their price objective on Tarsus Pharmaceuticals from $65.00 to $72.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 22nd. Finally, Barclays boosted their target price on Tarsus Pharmaceuticals from $60.00 to $62.00 and gave the company an “overweight” rating in a research note on Monday, January 27th. One investment analyst has rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $56.00.

Institutional Investors Weigh In On Tarsus Pharmaceuticals

Institutional investors have recently modified their holdings of the business. Crowley Wealth Management Inc. bought a new position in Tarsus Pharmaceuticals during the fourth quarter worth about $25,000. GF Fund Management CO. LTD. bought a new position in shares of Tarsus Pharmaceuticals during the fourth quarter worth approximately $44,000. R Squared Ltd acquired a new stake in shares of Tarsus Pharmaceuticals in the fourth quarter valued at approximately $53,000. FMR LLC raised its position in shares of Tarsus Pharmaceuticals by 236.6% in the third quarter. FMR LLC now owns 5,032 shares of the company’s stock valued at $166,000 after buying an additional 3,537 shares in the last quarter. Finally, Quarry LP bought a new stake in shares of Tarsus Pharmaceuticals in the fourth quarter valued at approximately $166,000. Institutional investors own 90.01% of the company’s stock.

Tarsus Pharmaceuticals Stock Performance

The stock has a market cap of $1.58 billion, a P/E ratio of -10.84 and a beta of 1.01. The company has a current ratio of 5.42, a quick ratio of 5.38 and a debt-to-equity ratio of 0.30. The stock has a 50 day simple moving average of $51.51 and a 200 day simple moving average of $43.00.

Tarsus Pharmaceuticals Company Profile

Tarsus Pharmaceuticals, Inc, a commercial stage biopharmaceutical company, focuses on the development and commercialization of novel therapeutic candidates for eye care in the United States. The company's lead product candidate is XDEMVY, a novel therapeutic for the treatment of blepharitis caused by the infestation of Demodex mites, as well as to treat meibomian gland disease.